Google to Provide CornellNYC Tech with Free Office Space for More Than 5 Years

Commitment to Training and Developing Engineering Talent in New York Cited as Key Reasons by CEO Larry Page

NEW YORK, NY — May 21, 2012 — Google Inc. CEO Larry Page announced today that Google will allocate 22,000 square feet of its New York headquarters to CornellNYC Tech, while the university completes its campus on Roosevelt Island. He was joined by New York City Mayor Michael R. Bloomberg, Cornell President David Skorton and Technion’s Director Craig Gotsman at a press conference this morning at Google New York. The space will allow Cornell to build its presence in New York in close proximity to the tech companies and entrepreneurs with whom it will collaborate. This arrangement represents Google, Cornell, Technion and the City of New York’s commitment to educating and developing tech talent in New York City.

Google will initially provide Cornell with 22,000 square feet of office space on July 1, 2012, free of charge for 5 years and 6 months or until the completion of Cornell’s campus on Roosevelt Island—whichever occurs first. Additionally, Cornell will be able to expand to 58,000 square feet over five years as it builds its presence in New York City.

“I’m passionate about breaking ground in science and engineering because technology has driven many of the advances humankind has made,” said Google CEO Larry Page. “But we still don’t have enough people working in these areas. It’s why I am tremendously pleased that Google is giving Cornell the office space to get their new engineering university up and running in New York City.”

“We’re about to find out what happens when you marry one of the world’s most innovative companies with one of the most innovative economic development strategies any city has undertaken,” said Mayor Bloomberg. “When we first envisioned the Applied Sciences initiative, we hoped the winning school would establish strong relationships with the tech sector. But this kind of synergy is beyond anything we could have imagined. CornellNYC Tech is well on its way to being fully integrated into New York City’s vibrant tech industry, and Google’s support is another huge vote of confidence for that industry. Just a few years ago, our tech sector was barely on anyone’s radar screen – now, it’s creating jobs and becoming a major player in our diversified economy.”

“We are proud to be launching CornellNYC Tech in what is becoming the center of the tech world,” said Cornell President David J. Skorton. “The one missing ingredient has been a pipeline of top-level tech talent, and that is what the tech campus will provide. Building on Mayor Bloomberg’s vision, we are creating a new academic model for this time, this place and this industry. The key is engagement between world class academics, companies and early-stage investors to catalyze innovation. That’s what we’ll be creating on Roosevelt Island, and thanks to Google it’s what will be happening here starting this fall.”

“We are delighted to launch our exciting programs with Cornell University in the Google building. This space provides the optimal environment for the education and nurturing of technical talent. This is a major step towards the fulfillment of Mayor Bloomberg’s vision to seed the city with entrepreneurs and start-ups. We at Technion are confident that our academic partnership with Cornell University will help build the city’s tech ecosystem and boost this sector of the economy,” said Technion President Peretz Lavie.

About Google Inc.

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